Aseana Prop. Regulatory News (ASPL)

27 August 2014

Aseana Properties Limited("Aseana" or the "Company")

Half-Year Results for the Six Months Ended 30 June 2014

Aseana Properties Limited (LSE: ASPL), a property developer investing in Malaysia and Vietnam, listed on the Main Market of the London Stock Exchange, announces its half-year results for the six-month period ended 30 June 2014.

Operational highlights:

· SENI Mont' Kiara won the World Silver Award at The International Real Estate Federation ("FIABCI") World Prix d'Excellence Awards 2014 in the residential (High Rise) category. Sale of properties at SENI Mont' Kiara is progressing well achieving 91% sales to date, compared to 88% recorded in April 2014. A further 6% is reserved with deposit paid.

· The RuMa Hotel and Residences ("The RuMa") achieved 43% sales based on sales and purchase agreement signed, with a further 8% reserved with deposit paid.

· The Aloft Kuala Lumpur Sentral Hotel's ("Aloft") average occupancy rate stood at 68% for the six-month period ended 30 June 2014, while Four Points by Sheraton Sandakan Hotel's ("FPSS") was at 42%.

· Aseana entered into a share sale agreement with Malaysian Resources Corporation Berhad ("MRCB") to dispose of its 40% stake in Excellent Bonanza Sdn. Bhd. ("EBSB") for a cash consideration of RM20.0 million (US$6.2 million). EBSB is the developer of the Kuala Lumpur Sentral Office Towers and Hotel project ("KL Sentral Project"). The transaction was completed on 19 August 2014.

· A plot of land measuring 4.7 hectares (11 acres) at the International Hi-Tech Healthcare Park ("IHTHP") was sold and development rights transferred to AEON Vietnam Co. Ltd. ("AEON Vietnam"). The transaction was completed on 1 August 2014.

Financial highlights:

· Unaudited revenue of US$31.49 million for the six-month period ended 30 June 2014 (30 June 2013 (unaudited): US$10.22 million)

· Unaudited loss before tax for the six-month period ended 30 June 2014 of US$4.76 million (30 June 2013 (unaudited): loss of US$13.73 million)

· Unaudited loss after tax for the six-month period ended 30 June 2014 of US$7.66 million (30 June 2013 (unaudited): loss of US$14.44 million)

· Unaudited consolidated comprehensive loss of US$6.66 million for the six months period ended 30 June 2014 (30 June 2013 (unaudited): loss of US$13.57 million)

· Unaudited net asset value of US$154.63 million at 30 June 2014 (31 December 2013 (audited): US$158.57 million) or US$0.729 per share* (31 December 2013 (audited): US$0.748 per share)

· Unaudited realisable net asset value of US$270.82 million at 30 June 2014 (31 December 2013 (unaudited): US$266.04 million) or US$1.277 per share* (31 December 2013 (unaudited): US$1.255 per share)

* NAV per share and RNAV per share as at 30 June 2014 are calculated based on 212,025,000 voting shares (31 December 2013: 212,025,000 voting shares).

Commenting on the results, Mohammed Azlan Hashim, Chairman of Aseana, said:

"We are pleased that the results for the first half of 2014 have improved significantly compared to the corresponding period in 2013, despite challenges in the property markets in both Malaysia and Vietnam. The Group will continue to pursue an opportunistic yet cautious approach in managing and realising cash flows from its projects. As we move into the second half of 2014, the Group will continue to focus on improving the operation and performance of its key operating assets."

The Group has also published its Quarterly Investment Update (including updates on projects and RNAV figures) for the period to 30 June 2014, which can be obtained on its website at www.aseanaproperties.com/quarterly.htm.

For further information:

Notes to Editors:

London-listed Aseana Properties Limited (LSE: ASPL) is a property developer investing in Malaysia and Vietnam.

Ireka Development Management Sdn Bhd ("IDM") is the exclusive Development Manager for Aseana. It is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has over 45 years' experience in construction and property development. IDM is responsible for the day-to-day management of Aseana's property portfolio and the introduction and facilitation of new investment opportunities.

CHAIRMAN'S STATEMENT

Introduction

I am pleased to report on the half-year results for Aseana Properties Limited ("Aseana") and its group of companies ("the Group") for the six months ended 30 June 2014.

In the year to date, the global economy has shown signs of recovery though political unrest in Ukraine and the Middle East pose notable challenges. Investment remains subdued amid the uneven economic growth in the United States of America and Europe. China's growth has also been curtailed amid by its government's reform policies. Closer to home, the Malaysian economy has proven resilient despite these global economic headwinds. Over the medium term, however, there are important long-standing structural issues such as the high levels of household debt which increased to 86.8% of its Gross Domestic Product ("GDP") as at the end of 2013, among the highest in Asia. The Central Bank of Malaysia recently announced a hike in Overnight Policy Rate ("OPR") by 25 basis points to 3.25%, the first rise in three years, to mitigate the risk of broader economic and financial imbalances that could undermine the growth prospects of the Malaysian economy.

The Vietnamese economy has resumed its path of gradual recovery in the first half of 2014. GDP expanded 5.18% during the first six month of the year and the Central Bank of Vietnam has recently devalued the Vietnamese Dong by 1% to boost exports following the domestic disturbances back in May triggered by the territorial dispute with China. Vietnam's total Foreign Direct Investment ("FDI") disbursement reached US$5.75 billion in the first half of 2014, an increase of 0.9% y-o-y.

Results

For the six months ended 30 June 2014, Aseana and its group of companies (the "Group") recorded unaudited revenue of US$31.49 million (H1 2013 (unaudited): US$10.22 million), which was mainly attributable to the sale of completed units in SENI Mont' Kiara and Tiffani. No revenue was recognised for The RuMa, in accordance with IFRIC 15 - Agreements for Construction of Real Estate which prescribes that revenue be recognised only when the properties are completed and occupancy permits are issued.

The Group recorded an unaudited loss before tax for the period of US$4.76 million (H1 2013 (unaudited): loss of US$13.73 million), predominantly due to operating losses and financing costs of Four Points by Sheraton Sandakan Hotel and Harbour Mall Sandakan totaling US$2.74 million, together with an operating loss and financing cost of City International Hospital of US$4.91 million.

The Group's unaudited loss after tax for the six-months ended 30 June 2014 stood at US$7.66 million (30 June 2013 (unaudited): loss of US$14.44 million). Other comprehensive income include a foreign currency translation gain of US$0.98 million (30 June 2013 (unaudited): loss of US$3.50 million) which was attributable to the strengthening of the Ringgit against the US dollars. This resulted in an unaudited consolidated comprehensive loss for the period of US$6.66 million (30 June 2013 (unaudited): loss of US$13.57 million).

Unaudited net asset value for the Group for the period under review decreased to US$154.63 million (31 December 2013 (audited): US$158.57 million) or US$0.729 per share (31 December 2013: US$0.748 per share) due to losses incurred for the period. However, unaudited realisable net asset value improved to US$270.82 million as at 30 June 2014 (31 December 2013 (unaudited): US$266.04 million) or US$1.277 per share (31 December 2013 (unaudited): US$1.255 per share) mainly due to the improved market values of IHTHP lands based on the latest market valuation exercise.

Review of Activities and Property Portfolio

Sales status (based on Sales and Purchase agreements signed):

Malaysia

SENI Mont' Kiara won the prestigious Silver prize in the FIABCI (World Chapter) Prix D' Excellence Award 2014 for the High Rise Residential Category, in May 2014. In line with this achievement, sales recorded for SENI Mont' Kiara increased to 91%, compared to 88% previously. A further 6% is reserved with deposit paid.

The recent cooling measures imposed by the Malaysian Government have affected the sales performance at The RuMa Hotel and Residences. Sale of units at The RuMa inched up marginally to 43% based on sales and purchase agreements signed, with a further 8% being reserved with deposit paid. The Manager has planned numerous sales events and initiatives over the next few months and will continue to explore all opportunities to drive sales. Meanwhile, construction of the main building is in progress and completion is targeted for 2017.

The 482-room Aloft Kuala Lumpur Sentral Hotel ("Aloft"), managed and operated by Starwood Asia Pacific Hotels Resort Pte. Ltd, has achieved an average occupancy rate of 68% for the six-months ended 30 June 2014.

Aseana has entered into a share sale agreement with Malaysian Resources Corporation Berhad ("MRCB") to dispose of its 40% stake in Excellent Bonanza Sdn. Bhd. ("EBSB") for a cash consideration of RM20 million (US$6.21 million). The transaction was completed on 19 August 2014. Aseana is expected to record a gain of approximately RM16.4 million (US$5.1 million) from the disposal of 40% stake in EBSB. EBSB, a joint venture company between MRCB and Aseana, is the developer of the Kuala Lumpur Sentral Office Towers and Hotel project. The disposal represents an early exit and realisation of profits from the project which was originally planned for December 2015.

Sabah's tourism continues to be adversely impacted by the disappearance of flight MH370 in March 2014 and also the recent flight MH17 tragedy, along with the several kidnapping cases of both tourists and locals, off the east coast of Sabah, over the last few months. In Sandakan, the business environment remains uncertain. Travel advisory notices were issued for the coastal areas of eastern Sabah by countries such as the United States of America, United Kingdom, Canada, Australia and New Zealand. The Malaysian Government has imposed night time curfews along the coastline of eastern Sabah as a new security measure. Average occupancy rate at the Four Points by Sheraton Sandakan Hotel ("FPSS") stood at 42% for the six-months ended 30 June 2014. The Management of FPSS continues to look at ways to improve efficiency of the hotel operation and to work with relevant authorities to increase tourist arrivals to Sandakan. The Harbour Mall Sandakan is similarly affected and tenancy rate has remained at 47.0% as at July 2014.

Moving forward, Aseana will focus on the operation and performance of its key operating assets. The Company will also continue its efforts to dispose of the remaining units at SENI Mont' Kiara and Tiffani as well as to drive new sales for The RuMa.

Vietnam

As at 3 August 2014, The City International Hospital ("CIH") registered inpatient days of 1,459 days with average revenue per inpatient admission of US$2,014. Outpatient visits as at 3 August 2014 stood at 5,144 visits with average revenue per visit of US$82. Whilst the average revenues per patient are within the expected range, the volume of patients has fallen short of expectations. The Manager is working closely with the operator of CIH to improve performance through targeted sales and marketing campaign, and introduction of new service lines offered by CIH.

Aseana, through its 67%-owned subsidiary, Hoa Lam Shangri-La 3 Limited Liability Company ("HLSL3"), has entered into an agreement with AEON Vietnam Co., Ltd. ("AEON Vietnam") to develop a retail mall at the International Hi-Tech Healthcare Park ("IHTHP"). AEON Vietnam is a subsidiary of AEON Co., Ltd. based in Japan, one of the world's largest retailing groups with over 18,000 stores across Japan and Asia. The transaction involves the disposal of a 4.7 hectares (11 acres) plot of land at IHTHP and also the transfer of the development rights to AEON Vietnam. AEON Vietnam has on 21 June 2014, been awarded the Investment Certificate for the development, and on 1 August 2014 successfully transferred the development rights to AEON Vietnam. HLSL 3 will receive a net cash consideration of approximately US$23 million from the transaction. To date, 95% of the consideration has been received and the remaining 5% will be disbursed by AEON Vietnam upon completion of certain road infrastructure for the plot of land, expected in Q4 2014. From the cash proceeds received by HLSL3, US$14.6 million was used to repay bank borrowings of IHTHP, with the remaining proceeds being used for payment of infrastructure costs for the land, Corporate Income Tax and working capital of the project.

The Vietnam Stock Index ("VN Index") has recovered following a gradual decline between the end of March 2014 and the beginning of August 2014, reflecting a more positive economic outlook for Vietnam. At the date of this publication, Nam Long shares closed at VND18,600 per share, improving from VND17,400 per share as at 30 June 2014.

MOHAMMED AZLAN HASHIM

Chairman

26 August 2014

The Malaysian economy recorded a strong growth of 6.4% in the first half of 2014, underpinned mainly by a surge in exports and aided by low base effect. However, there are indications that growth will taper moving into the second half of 2014. This reflects the impact of the fiscal and monetary policy adjustments by the Government such as the on-going subsidy rationalisation and the upcoming Goods and Services Tax ("GST"). Although these measures by the Government will undeniably dampen the domestic demand especially consumer spending and Government expenditures, GDP growth is expected to remain resilient. Malaysia continues to build on its competitive position in electronics, automotive and machinery manufacturing industries to move up the value chain into high-technology and skill-intensive segments. AT Kearney has ranked Malaysia 15th in its list of 2014 Foreign Direct Investment Confidence Index, compared to being in the 25th position in previous year.

Fitch Ratings has also reaffirmed Malaysia's sovereign ratings at "A-" accompanied by cautious commentary on the credit weakness in public finances relative to other "A" range peers. This remains a source of downward pressure on the ratings for Malaysia. There are concerns over the Malaysian Government's lack of progress on structural budgetary reform and with the rising interest rates which could impair household debt servicing capacity, the outlook for Malaysia's long term default rating remains at "negative".

In July 2014, the central bank of Malaysia raised the overnight policy rate ("OPR") by 25 basis points to 3.25%, the first increase in three years, with the expectations that Malaysia's overall economic growth momentum will be sustained. Amid the high and rising household debt to GDP ratio, this increase will add to consumers' costs of living and also reduce purchasing powers.

Prior to the announcement of the OPR hike, the Ringgit had hit an eight-month high against the US dollar, reflecting renewed investor confidence in the currency and making it the second best-performing currency among the other Asean countries such as Thailand, Indonesia, Singapore and Philippines.

The Consumer Sentiment Index and the Business Conditions Index issued by the Malaysian Institute of Economic Research ("MIER") for the second quarter of 2014 continue to move in tandem for four consecutive quarters, reflecting synchronisation in both consumer and business sentiments. The Consumer Sentiment Index rose 3.3 points to pass the 100-point benchmark to settle at 100.1 points (Q1 2014: 96.8 points). This indicates neutral consumer sentiment towards the outlook for employment. The Business Conditions Index rose to 113.0 points (Q1 2014: 103.1 points) contributed by increased sales in the manufacturing sector, strong domestic and export orders and higher investment in new plant and equipment.

Source: Bank Negara Malaysia website, Jones Lang Wootton Q2 report, MIER, various publications

Exchange rate - 30 June 2014: US$1:RM3.2113

The Vietnamese economy picked up in the first half of 2014, with growth of 5.2% following interest rate cuts by the central bank alongside rising foreign investment and strong exports growth. The World Bank forecasted Vietnam's 2014 GDP growth to be at 5.4% while Vietnam's National Financial Supervisory Committee ("NFSC") expects stronger growth of 5.7% to 5.8%. The central bank of Vietnam has also devalued the Vietnamese dong by 1% to help boost exports following the unrest in May triggered by the anti-Chinese protests and also to create stability for the foreign exchange market.

On the back of continued macro-economic stability, Standard & Poor ("S&P"), a global ratings firm has retained its BB long term and B short term sovereign credit ratings on the country. Furthermore, Moody's Investors Service upgraded Vietnam's credit rating by raising the Government bond ratings from B2 to B1 with a stable outlook and also raised the long term foreign currency bond ceiling from B1 to Ba2 as well as its long term foreign currency deposit ceiling from B3 to B2.

Vietnam's June 2014 CPI grew at the slowest pace in 13 years, with a growth of 1.38% as compared to December 2013 and edged up by 4.98% compared to the same period last year, indicating subdued consumer sentiments.

Foreign investment plays an important role in bolstering the growth of many sectors. According to the Ministry of Planning and Investment of Vietnam, statistics showed that the country attracted US$6.85 billion in foreign direct investment ("FDI") in the first half of 2014, including newly registered funds and extra capital from operational projects. The total amount of FDI for the property sector reached US$692.3 million, a 65% increase year on year. This shows that Vietnam's property sector is once again attractive to foreign investors. With the implementation of the new Land Law with effect from 1 July 2014, foreign real estate investors are now allowed to be allocated lands for the purpose of construction of residential housing projects for sale or lease by the Government of Vietnam. Previously, investors were only able to lease those lands from the Government.

Although foreign tourist arrivals to Vietnam in the first six months of the year increased by 21.2% to over 4.3 million, political and safety concerns will remain issues for tourism in the second half of 2014, especially for the hotels and resorts industry following the East Sea tension between China and Vietnam in May.

Source: General Statistics Office of Vietnam, Savills, CBRE, various publications

Exchange rate - 30 June 2014: US$1:VND21,315

LAI VOON HON

President / Chief Executive Officer

Ireka Development Management Sdn. Bhd.

Development Manager

26 August 2014

PROPERTY PORTFOLIO AS AT 30 JUNE 2014

*Shareholding as at 31 December 2013

n/a: Not available / not applicable

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2014

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 30 JUNE 2014 - UNAUDITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 30 JUNE 2013 - UNAUDITED

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2013 - AUDITED

During the financial period/year, the Group acquired property, plant and equipment with an aggregate cost of US$13,000 (30 June 2013: US$91,000; 31 December 2013: US$194,000) of which US$Nil (30 June 2013: US$41,005; 31 December 2013: US$40,000) was acquired by means of finance leases.

During the financial period/year, US$562,000 (30 June 2013: US$170,000; 31 December 2013: US$1,097,000) of ordinary shares of subsidiaries were issued to non-controlling shareholders, of which US$562,000 (30 June 2013: US$170,000; 31 December 2013: US$1,097,000) was satisfied via cash consideration.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2014

1 General Information

The principal activities of the Group are acquisition, development and redevelopment of upscale residential, commercial, hospitality and healthcare projects in the major cities of Malaysia and Vietnam. The Group typically invests in development projects at the pre-construction stage and may also selectively invests in projects in construction and newly completed projects with potential capital appreciation.

2 Summary of Significant Accounting Policies

2.1 Basis of Preparation

The interim condensed consolidated financial statements for the six months ended 30 June 2014 has been prepared in accordance with IAS 34, Interim Financial Reporting.

The interim condensed consolidated financial statements should be read in conjunction with the annual financial statements for the year ended 31 December 2013 which has been prepared in accordance with IFRS.

Taxes on income in the interim period are accrued using the tax rate that would be applicable to expected total annual earnings.

The interim results have not been audited nor reviewed and do not constitute statutory financial statements.

The preparation of financial statements in conformity with IFRS requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Although these estimates are based on management's best knowledge of the amount, event or actions, actual results ultimately may differ from those estimates.

The accounting policies applied are consistent with those of the annual financial statements for the year ended 31 December 2013 as described in those annual financial statements.

The interim report and financial statements were approved by the Board of Directors on 26 August 2014.

3 SegmentAL Information

The Group's assets and business activities are managed by Ireka Development Management Sdn. Bhd. ("IDM") as the Development Manager under a management agreement dated 27 March 2007.

Segmental information represents the level at which financial information is reported to the Executive Management of IDM, being the chief operating decision maker as defined in IFRS 8. The Executive Management consists of the Chief Executive Officer, the Chief Financial Officer, Chief Operating Officer and Chief Investment Officer of IDM. Management determines the operating segments based on reports reviewed and used by the Executive Management for strategic decision making and resource allocation. For management purposes, the Group is organised into project units.

The Group's reportable operating segments are as follows:

(i) Investment Holding Companies - investing activities;

(ii) Ireka Land Sdn. Bhd. - develops Tiffani by i-ZEN and 1 Mont' Kiara by i-ZEN;

(iii) ICSD Ventures Sdn. Bhd. - owns and operates Harbour Mall Sandakan and Four Points by Sheraton Sandakan Hotel;

(iv) Amatir Resources Sdn. Bhd. - develops SENI Mont' Kiara;

(v) Iringan Flora Sdn. Bhd. - owns and operates Aloft Kuala Lumpur Sentral Hotel; and

(vi) Hoa Lam-Shangri-La Healthcare Group - owns and develops City International Hospital and Hi-Tech

Healthcare Park.

Other non-reportable segments comprise the Group's new development projects. None of these segments meets any of the quantitative thresholds for determining reportable segments in 2014 and 2013.

Information regarding the operations of each reportable segment is included below. The Executive Management monitors the operating results of each segment for the purpose of performance assessments and making decisions on resource allocation. Performance is based on segment gross profit/(loss) and profit/(loss) before taxation, which the Executive Management believes are the most relevant in evaluating the results relative to other entities in the industry. Segment assets and liabilities are presented inclusive of inter-segment balances and inter-segment pricing is determined on an arm's length basis.

The Group's revenue generating development projects are currently only in Malaysia since development activities in Vietnam are still at early stages of development and operation.

Operating Segments - ended 30 June 2014 - Unaudited

Operating Segments - ended 30 June 2013 - Unaudited

Operating Segments - ended 31 December 2013 - Audited

* Included in segment asset for other non-reportable segments is US$53,675,000 (30 June 2013: US$42,449,000; 31 December 2013: S$49,696,000) in relation to assets of Urban DNA Sdn. Bhd.. 

Geographical Information - ended 30 June 2014 - Unaudited

For the financial period ended 30 June 2014, no single customer exceeded 10% of the Group's total revenue.

Geographical Information - ended 30 June 2013 - Unaudited

For the financial period ended 30 June 2013, no single customer exceeded 10% of the Group's total revenue.

Geographical Information - ended 31 December 2013 - Audited

For the financial year ended 31 December 2013, no single customer exceeded 10% of the Group's total revenue.

4 Seasonality

The Group's business operations are not materially affected by seasonal factors for the period under review.

5 Cost of Sales

6 Foreign exchange loss

7 Taxation

The numerical reconciliation between the income tax expense and the product of accounting results multiplied by the applicable tax rate is computed as follows:

* The applicable corporate tax rate in Malaysia and Vietnam is 25%.

** The applicable corporate tax rate in Singapore is 17%. A subsidiary of the Group, Hoa Lam-Shangri-La Healthcare Ltd Liability Co is granted a preferential corporate tax rate of 10% for its profit/(loss) arising from hospital income. The preferential income tax rate is given by the government of Vietnam due to the subsidiary's involvement in the healthcare and education industries.

The Company is treated as a tax resident of Jersey for the purpose of tax laws and is subject to a tax rate of 0%.

A Goods and Services Tax was introduced in Jersey in May 2008. The Company has been registered as an International Services Entity so that it does not have to charge or pay local GST. The cost for this registration is £200 per annum.

The Directors intend to conduct the Group's affairs such that the central management and control is not exercised in the United Kingdom and so that neither the Company nor any of its subsidiaries carries on any trade in the United Kingdom. The Company and its subsidiaries will thus not be residents in the United Kingdom for taxation purposes. On this basis, they will not be liable for United Kingdom taxation on their income and gains other than income derived from a United Kingdom source.

8 LOSS Per Share

Basic and diluted loss per ordinary share

The calculation of basic and diluted loss per ordinary share for the period/year ended was based on the loss attributable to equity holders of the parent and a weighted average number of ordinary shares outstanding, calculated as below:

9 Loans and Borrowings

The effective interest rates on the bank loans and hire purchase arrangement for the period ranged from 5.25% to 14.90% (30 June 2013: 5.20% to 23.00%; 31 December 2013: 5.25% to 17.70%) per annum and 2.50% (30 June 2013: 2.50%; 31 December 2013: 2.50% to 3.50%) per annum respectively.

Borrowings are denominated in Ringgit Malaysia, United States Dollars and Vietnam Dong.

Bank loans are repayable by monthly, quarterly or semi-annually instalments.

Bank loans are secured by land held for property development, work-in-progress, operating assets of the Group, pledged deposits and some by the corporate guarantee of the Company.

Finance lease liabilities are payable as follows:

10 Medium Term Notes

The medium term notes ("MTN") were issued by a subsidiary to fund two development projects known as Sandakan Harbour Square and Aloft Kuala Lumpur Sentral Hotel in Malaysia. US$76.3 million were drawn down in 2011 for Sandakan Harbour Square. US$4.7 million were drawn down in 2012 for Aloft Kuala Lumpur Sentral Hotel and the remaining US$79.1 million in 2013. The weighted average interest rate of the MTN was 5.51% per annum at the statement of the financial position date. The effective interest rates of the medium term notes and their outstanding amounts are as follows: